PRZOOM - /newswire/ -
Mumbai, Maharashtra, India, 2007/01/18 - Since its launch in July 2006, PayMate India, a leading mobile commerce company, has added over 2,500 online merchants to its kitty, making it the most compelling mobile payment option in the country.

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Consumers will be able to pay via SMS for goods and services purchased online across various categories including travel, astrology, electronics, education, jobs, NGOs, apparels, matrimony, entertainment and healthcare etc.

PayMate has already tied-up with leading online merchants such as Rediff, Naukri, Jeevansathi, Indiatimes, Makemytrip, TravelMart India, Cleartrip, Future Bazaar and Fabmall. The expanding merchant base will now also include Taj hotels, Shaadi.com, Adlabs multiplexes, Oxford Bookstore etc. making it available at over 85% of eMerchants in India.

“This may be termed as one of the biggest developments in m-commerce in India. E-commerce is already experiencing exponential growth and there is a pressing need for newer payment options for consumers. With an average of 8 million transactions being carried out every month, eShoppers in India now have a simple, easy and secure method of paying for goods and services via their mobile. With the penetration we have achieved, we see PayMate becoming the preferred payment option once we promote our service to consumers”, says Ajay Adiseshann, Founder & MD, PayMate India.

“At Avenues we always offer the best technology and solutions to our merchants. Given the mobile penetration and usage, mobile payments are soon going to be a critical payment platform and we are happy to partner with PayMate who will be setting this trend in India”, says Vishwas Patel, CEO, Avenues, India’s preferred ePayment processing service which will offer PayMate as an exclusive mobile payment platform to all its clients.

PayMate recently announced its aggressive foray into the offline retail sector with a voice and SMS based solution and a newly developed PayMate EDC machine. It has currently partnered with Future Bazaar, Mumbai Gold Cabs, CRS Health and Planet M to accept mobile payments.

PayMate User Manual
PayMate is currently being offered to Citibank bank credit card and banking customers and will roll out services with other leading banks shortly. To use PayMate, Citibank customers need to sign up for this service free with the bank by simply sending “PAYMATE” as an SMS to 2484. The customer will then be called back and registered for the service following which they can conveniently pay at any of PayMate’s accredited merchants via a single SMS.

On receiving this SMS, the bank will verify the user’s mobile number with the account and on confirmation will debit the account accordingly. The merchant and the customer will receive a confirmation message from the bank approving the transaction. The entire transaction takes place at the cost of a single premium SMS.

PayMate is accepted at over 2500 online portals including travel, astrology, electronics, education, jobs, NGOs, apparels, matrimony, entertainment and healthcare etc. PayMate has also announced its tie-ups with Tele-brands, Big Tree (cinema ticketing), Mumbai Gold Cabs, Planet M, CRS Health, Seijo and the Soul Dish, VSNL, Future Bazaar etc. The company is also in the process of tying up with several offline merchants such as telco’s, utilities, insurance companies, cable and broadband services, tele-shopping etc and will be announcing its tie-ups in a phased manner.

PayMate offers a secure payment solution as no credit/debit card information is ever disclosed during the transaction process. The trust model is based on the recommendations by Ernst & Young; which provides the security measures for both the bank as well as the customer.

About PayMate India Pvt. Ltd.
PayMate India Private Limited (paymate.co.in) is a mobile commerce solutions company based in Mumbai. PayMate India has been spun off by Coruscant Tec, a mobile content developer and aggregator, to offer comprehensive mobile commerce solutions.

PayMate was founded in May 2006 by Ajay Adiseshann, Founder and MD, Coruscant Tec and Co-founder, Probir Roy. In a short span of time PayMate India has partnered with Citibank to offer a unique mobile payment solution.

PayMate India is funded by Silicon Valley based Kleiner Perkins Caufield & Byers and Sherpalo Ventures who have helped build some of the world’s leading brands and companies like Amazon, Google, Sun Microsystems.

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